Blockchain in Telecom
The telecom industry has been providing almost all the necessary infrastructure for the blockchain technology to operate. Blockchain itself is in a very nascent and untested stage, and there is no real-life example of its applications on a substantial scale, except crypto business. Besides the finance industry, where cryptocurrencies storm the world, there is comparatively very little known about its applications in other industries.
However, that does not imply that there is not much happening elsewhere. Almost all other industries somehow involved in exploring how the blockchain can work for their businesses. So far, most of these projects are either on a pilot scale or partially nested in collaboration with the existing platforms.
Unlike other industries, the telecom industry faces a unique challenge which is the extra large customer base in the form of multi-billion phone subscribers. The ecosystem can be further complicated with cross networks, international calls and roaming.
For telecom companies, to build expertise and develop applications on a universal scale requires multi-billion investments. Such huge investment in an uncharted field involves high risks which deter companies to spearhead by its own. Notwithstanding, this has encouraged telecom companies to work together in a consortium to share knowledge and costs. Some companies are employing a dual strategy by developing in-house expertise as well as also joined consortiums and investment partnerships with other companies.
There are various partnerships in the telecom industry on a global scale, for instance, Carrier Blockchain Study Group (CBSG) aiming to specifically develop a blockchain platform for telecom carriers addressing digital payments, authentication, IoT, clearing and settlement etc. Similarly, ITW Global Leaders’ Forum (GLF) with the involvement of its members completed a multi-lateral blockchain Proof of Concept (PoC) to settle voice transactions between multiple carriers in minutes rather than hours.
Commodity Inside understands that similar to carriers companies, regulators, equipment vendors and handsets manufacturers are also equally involved in developing the blockchain technology. For instance, Deutsche Telekom is working in partnership with Camelot ITLab and SAP for building a global blockchain system which can block and erase personal data from the stolen phones. Zipper and Jolla partnered to make blockchain based platform for Sony Xperia devices, while Samsung is rumoured to introduce blockchain features in the upcoming Galaxy S10. Major blockchain platform providers such as Microsoft, IBM, SAP and Oracle are also actively involved with telecom companies.
On a state level, Switzerland’s state-owned telecoms provider Swisscom is joining hands with the national postal service Swiss Post for a national blockchain infrastructure. Their first pilot application, which is based on Hyperledger Fabric 2.0 software, is expected to be launched by Q2 2019.
Commodity Inside ascertains that most of the use cases are aiming for process optimisation, while some are experimenting with entirely new services & business models. So far, telecom companies are mainly concentrating on OSS/BSS process and supply chain management, where currently there is a minimal threat for these established companies from new entrants. However, in addition to their strongholds, more to be done to capture the new revenue generation streams such as mobile payments and banking, a marketplace for unused capacity and IoT connectivity.
Key questions answered
- How will blockchain technology reshape the telecom sector?
- How are some key companies applying the blockchain in the telecom market?
- What will be the main threats and opportunities for the blockchain in telecom?
- What will be the major drivers behind the fast growth of blockchain in telecom?
- The current and future demand dynamics of blockchain technology in various regions
- Blockchain technology and key developments in the telecom sector
- Detailed discussions on market strategies and competitive landscapes
- SWOT analysis of blockchain in telecom
- Key trend and developments assessments
Opportunity Assessment of Blockchain Technology in the Telecom Market: Key Areas covered
- Use cases
- Key developments
- Key players in the industries
- SWOT Analysis
Who should buy this report?
- Telecom companies including carriers, equipment and service providers
- Information technology companies operating in the blockchain
- Blockchain technology companies
- Government bodies
- Industry consultants, researchers and analysts
Opportunity Assessment of Blockchain Technology in the Telecom Market contains valuable resource necessary for examining the blockchain in the telecom industry. We have more explanation about estimating the market size and market forecast on our methodology page.